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NOVATEK starts construction of Sabetta port
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
+7 (495) 730-6013
Maria Dokuchaeva, Press-secretary
+7 (495) 721-2207
20 July 2012
Moscow, 20 July 2012. OAO NOVATEK (‘NOVATEK’ and/or the ‘Company’) held an official ceremony to mark the start of construction at the Sabetta port and laid a commemorative capsule into its foundation. The Sabetta port will be located on the North-East of the Yamal Peninsula in Yamal-Nenets Autonomous Region (YNAO).
The Sabetta port will serve as a key element of the transport infrastructure for the Yamal LNG project, which includes the design and construction work of an onshore, integrated LNG facility with the feedstock for the Yamal LNG facility based on the resources of the Company’s South-Tambeyskoye field. Construction of the Sabetta port facilities will create the foundation for development of hydrocarbon fields located in the Yamal Peninsula and the Gulf of Ob, provide year-round navigation along the Northern Sea Route and contribute to the development of Russia’s icebreaker fleet.
The Yamal LNG Project is included in the Comprehensive Plan for the development of liquefied natural gas production on the Yamal Peninsula approved by the Russian Government. Construction of the port facility near the village of Sabetta is an integral part of the Comprehensive Plan and will be implemented in two phases. The first phase will include the construction of piers for receiving large LNG plant process modules and construction materials, with the first modules expected to arrive in July 2014, whereas loading for LNG and gas condensate will be built during the second phase.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
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